Rolls-Royce has confirmed it will cut 4,600 jobs over the next two years, as part of 'fundamental restructuring' with aims to 'deliver improved returns, higher margins and increaesed cash flow."
Chief Executive Warren East said: “... It is never an easy decision to reduce our workforce, but we must create a commercial organisation that is as world-leading as our technologies. To do this we are fundamentally changing how we work.
“These changes will help us deliver over the mid and longer-term a level of free cash flow well beyond our near-term ambition of around £1bn by around 2020. After a decade of significant investment we are committed to delivering improved returns while continuing to invest in the innovation needed to realise our long-term aspiration to be the world’s leading industrial technology company.”
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